We’ve once again entered the ‘hope’ phase of the markets, as a huge 4 day recovery has rebuilt from the devastation that occurred last week.

The US FED reported on PPI yesterday, with Producer PPI coming in at 0.1%, below estimates and Core PPI coming in slightly above estimates at 0.3%. PPI generally gives us clues into where CPI might be positioned in the near future. If PPI (the cost to create or produce goods) jumps considerably, CPI (or the correlation to what the price of retail goods are) jumps considerably as well. US CPI data is due to come out late today.

Gold continued to strengthen, getting ever closer to securing another all time high.

This week has some interesting data coming forward – including housing starts, the optimism index, and consumer sentiment. As the US is behind us in their news cycle and timezone, we’ll be talking more to these bit of information next week.

Enjoy today’s charts.

Gold daily chart, with 200MDA